3231 City Terrace Drive

    Los Angeles (City), CA 90063
    • $849,000
    • STATUS: Active Under Contract
    • ON SITE: 317 days
    • ID#: 18417952
    Under Contract
    UPDATED: 46 min ago
    $849,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,230
      SQFT
    • $381
      $/SQFT
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    Here is a listing where you can easily do an enormous amount of your own 'value add.' You've got 9000 sq ft of mixed use property. The max number of units permitted for an all residential project would be 6. As far as commercial it will depend on the parking you can provide. Professional Office is 1 for every 400 square feet, Retail is 1 for every 250 square feet, and a food establishment depends on the occupancy load. If you wanted to do a mixed use project, your max residential unit count would be 3 units. There are currently two vacant commercial units and two residential units, one of which is vacant and the other should be very easily vacatable, if you so desire. It also has space beneath the residential units currently used for parking but can be easily converted into either residential or commercial spaces.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-14T15:34:03.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/90510946

    3231 City Terrace Drive Los Angeles (City), CA 90063

    • Price: $849,000
    • Status: Active Under Contract
    • Updated: 46 min ago
    • ID#: 18417952
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    2,230
    SQFT
    $381
    $/SQFT
    1930
    Built
    County:
    Los Angeles
    Property Description
    Here is a listing where you can easily do an enormous amount of your own 'value add.' You've got 9000 sq ft of mixed use property. The max number of units permitted for an all residential project would be 6. As far as commercial it will depend on the parking you can provide. Professional Office is 1 for every 400 square feet, Retail is 1 for every 250 square feet, and a food establishment depends on the occupancy load. If you wanted to do a mixed use project, your max residential unit count would be 3 units. There are currently two vacant commercial units and two residential units, one of which is vacant and the other should be very easily vacatable, if you so desire. It also has space beneath the residential units currently used for parking but can be easily converted into either residential or commercial spaces.
    Exterior Features

    Lot Size Source See Remarks Lot Size Units Square Feet Parking Features UncoveredParking Space Parking YN Yes

    Interior Features

    Appliances None Appliances YN No Cooling None Cooling YN No Laundry Features None

    Property Features

    Cap Rate 6.72 Gross Multiplier 10.41 Gross Operating Income 100800.00 Improvements Amount 159120 Land Value 295800 Laundry YN No Net Operating Income 70560.00 Special Listing Conditions Standard Total Expenses 30240.00 Zoning Lcc2*

    Listing provided courtesy of Ken Shapiro of Silverwood Properties


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-14T15:34:03.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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